Earthstone Energy (NYSE:ESTE) Shares Down 9.2%

Earthstone Energy, Inc. (NYSE:ESTEGet Rating) fell 9.2% during trading on Friday . The company traded as low as $16.47 and last traded at $16.51. 16,033 shares traded hands during trading, a decline of 99% from the average session volume of 1,527,125 shares. The stock had previously closed at $18.19.

A number of research firms have commented on ESTE. Truist Financial raised their target price on shares of Earthstone Energy from $25.00 to $30.00 in a research note on Thursday, April 21st. StockNews.com cut shares of Earthstone Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Stephens initiated coverage on shares of Earthstone Energy in a report on Wednesday, April 13th. They set an “equal weight” rating and a $15.00 price objective for the company. TheStreet lowered shares of Earthstone Energy from a “b” rating to a “c+” rating in a report on Tuesday, May 24th. Finally, Wells Fargo & Company increased their price objective on shares of Earthstone Energy from $13.00 to $17.00 and gave the company an “underweight” rating in a report on Monday, March 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.08.

The business’s fifty day simple moving average is $16.07 and its 200-day simple moving average is $13.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $1.78 billion, a PE ratio of 86.63 and a beta of 2.14.

Earthstone Energy (NYSE:ESTEGet Rating) last posted its earnings results on Wednesday, May 4th. The oil and gas producer reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.22. Earthstone Energy had a net margin of 1.45% and a return on equity of 16.38%. The firm had revenue of $196.10 million during the quarter, compared to analyst estimates of $166.65 million. During the same period last year, the firm posted $0.17 earnings per share. Earthstone Energy’s revenue for the quarter was up 159.4% compared to the same quarter last year. Sell-side analysts expect that Earthstone Energy, Inc. will post 3.84 earnings per share for the current fiscal year.

In other Earthstone Energy news, CFO Mark Lumpkin, Jr. sold 30,000 shares of Earthstone Energy stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $16.47, for a total transaction of $494,100.00. Following the completion of the transaction, the chief financial officer now directly owns 208,253 shares of the company’s stock, valued at $3,429,926.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tony Oviedo sold 50,000 shares of Earthstone Energy stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $13.71, for a total transaction of $685,500.00. Following the transaction, the executive vice president now directly owns 180,555 shares of the company’s stock, valued at $2,475,409.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,500 shares of company stock valued at $1,419,175. 52.45% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of ESTE. Ameritas Investment Partners Inc. boosted its stake in Earthstone Energy by 44.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 739 shares during the period. Ellevest Inc. lifted its position in shares of Earthstone Energy by 130.1% during the fourth quarter. Ellevest Inc. now owns 4,056 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 2,293 shares during the last quarter. Citigroup Inc. lifted its position in shares of Earthstone Energy by 329.9% during the third quarter. Citigroup Inc. now owns 4,896 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 3,757 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Earthstone Energy by 58.6% during the third quarter. BNP Paribas Arbitrage SA now owns 5,746 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 2,124 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Earthstone Energy during the fourth quarter worth $71,000.

About Earthstone Energy (NYSE:ESTE)

Earthstone Energy, Inc, an independent oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the United States. The company's asset portfolio includes the Midland Basin of West Texas, Delaware Basin in New Mexico, and the Eagle Ford trend of south Texas.

Featured Stories

Want More Great Investing Ideas?

Receive News & Ratings for Earthstone Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Earthstone Energy and related companies with MarketBeat.com's FREE daily email newsletter.